RATE Group | Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market
85836
post-template-default,single,single-post,postid-85836,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

16 Apr Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

Posted at 22:54h in Cryptocurrency News by

Open interest in bitcoin futures listed on the Chicago Mercantile Exchange (CME) has recovered significantly from the March lows, indicating a resurgence in institutions that want to buy the cryptocurrency. 

As of Wednesday, open interest, or the number of futures contracts outstanding, was $181 million, a 70 percent increase from $106 million recorded on March 22. 

cme-open-interest
CME open interest
Source: skew

The number stood at $196 million nine days ago. That was the highest since March 7, according to data provided by the crypto derivatives research firm Skew. 

“The growth in open interest from CME may indicate that entities from traditional finance are more open to add bitcoin exposure to their portfolios, whilst retail investors are seemingly more reluctant to indulge in the futures market,” cryptocurrency platform Luno noted in its latest weekly market report. 

An increase in open interest along with an increase in price is said to confirm an upward trend. Put simply, bitcoin’s recent…

Source link

Tags:
, , , , , , , , ,